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Balance Sheet Basics for Businesses

The balance sheet provides a measure of a business's solvency by listing its assets, liabilities, and owner's equity as of a specific date. It includes sections for current assets and long-term assets, as well as current liabilities and long-term liabilities. The balance sheet is a snapshot of what a company owns and owes, to ensure total assets equal total liabilities plus owner's equity.

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643 views1 page

Balance Sheet Basics for Businesses

The balance sheet provides a measure of a business's solvency by listing its assets, liabilities, and owner's equity as of a specific date. It includes sections for current assets and long-term assets, as well as current liabilities and long-term liabilities. The balance sheet is a snapshot of what a company owns and owes, to ensure total assets equal total liabilities plus owner's equity.

Uploaded by

Eshan Mishra
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Sample Document

THE BALANCE SHEET

The Balance Sheet is a measure of the solvency of the business, and the degree of the owners investment which, in the
last analysis, is the cushion that protects creditors. Illustrated below is a typical balance sheet format (applicable to any type
of business).

Name of Company

Address

To

Balance Sheet As Of 20

CURRENT ASSETS: Cash on Hand and in Banks ........................... $


Accounts Receivable .......................................
Notes Receivable, Trade ..................................
Notes Receivable, Other ..................................
Inventory ........................................................
Marketable Securities .....................................
Other Current Assets ......................................
Total Current Assets: $
LONG-TERM ASSETS: Real Estate......................................................
Machinery & Equipment .................................
Other Assets (attach list if needed) .................
Deferred, Prepaid, Intangible Expenses ...........
Total Long-Term Assets: $
Total Assets: $
CURRENT LIABILITIES: Notes Payable, Banks ...................................... $
Notes Payable, Other .......................................
Accounts Payable, Current .............................
Accounts Payable, Past Due ............................
Accrued Federal, State Income Taxes ..............
Other Accrued Expenses .................................
Current Portion Long-Term Debt ....................
Other Current Liabilities .................................
Total Current Liabilities: $
LONG-TERM LIABILITIES: Mortgage Debt due after 1 year ....................... $
Equipment Debt due after 1 year ....................
Other Long-Term Debt ....................................
Total Long-Term Liabilities: $
Capital Account (Corporate Only)....................
Preferred Stock ................................................
Common Stock ................................................
Capital Surplus...............................................
Retained Earnings ..........................................
Total Net Worth: $
Total Liabilities and Net Worth: $

NOTE: In order to complete the Balance Sheet properly, Total Assets must equal Total Liabilities plus Net Worth.

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